William L. Moore
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William L. Moore in Insider trading,

Why This Analyst Is Maintaining A Buy On Pier 1 Despite A Tough Start To 2017

Notwithstanding the disappointing fiscal year first-quarter results and weak second-quarter guidance released by Pier 1 Imports Inc, Loop Capital Markets maintained its Buy rating on the stock.

Analyst Anthony Chukumba attributed the Buy rating to the fact that the weak results were primarily due to underperformance in one product category, namely outdoor furniture. Additionally, the analyst indicated the company is much less dependent on furniture sales in the second half than in the first half.

The analyst also said he's encouraged to hear of CEO Alaisdair James' plans to take a holistic look at the entire company, including refining the company's positioning, improving customer segmentation, communicating company's vision and values to consumers in a better way and developing a more comprehensive omni-channel marketing campaign.

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